Saturday, 22 January, 2022
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FBCCI preparing 10-year master plan for development of trade, economy

FBCCI preparing 10-year master plan for development of trade, economy

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is preparing a 10-year master plan for the development country’s trade and economy and also to determine necessary strategies for logistics in the coming days.
 
FBCCI President Md. Jashim Uddin said this at a press conference held at the FBCCI office this afternoon.
 
He said after becoming a developing country from the LDC category, innumerable possibilities will be created for Bangladesh and demand for new products in the trade and export sectors will be created.
 
Jashim said the size of the economy would also be bigger. “Once the implementation of various infrastructure projects taken up by the government is completed, foreign investment will also increase. Then the capacity of transporting goods and also the capacity of ports will also have to be increased,” he added.
  
He said with all this in mind, the FBCCI, the apex trade body of the country, is developing a master plan.
 
The FBCCI President said that the biggest challenge in the post-LDC period is to increase sector-based capacity to meet the changing global demand. 
 
To address this challenge, he said, the FBCCI is going to set up an innovation center to enhance the capacity of domestic industries. A concept paper in this regard will be submitted to the government next month, he added.
 
He said the North South University is working with the FBCCI on Circular Economy and recycling. “With the completion of these ongoing activities, power generation and recycled products from the country's waste will increase,” he added.
 
Highlighting the recent visit to the United Kingdom and France at the press conference, the FBCCI President said that the 2nd and 3rd generations of Bangladeshi expatriates have been closely associated with the main economies of those two countries. 
 
“But, they don’t have much idea about Bangladesh. If these expatriate entrepreneurs can be connected with the international trade of Bangladesh, it will be easier to capture the mainstream market of the two countries,” he opined. 
 
To this end, the FBCCI has signed a memorandum of understanding with the mainstream trade organizations of the United Kingdom and France.
 
Jashim also said the FBCCI has also signed a memorandum of understanding (MoU) with HSBC to list new potential products outside of readymade garments, to explore their export opportunities and barriers. 
 
As a result of these activities, the wheel of economic progress of Bangladesh will be further accelerated by utilizing the potential of a developing nation, he added.
 
The press conference was organized on the occasion of “Bijoyer 50 Bochhor: Laal Shobujer Mohotshab”, a 16-day gala celebration. 
 
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President M A Momen, Md. Aminul Hoque Shamim, Md. Amin Helaly, Md. Salahuddin Ahmed and MA Razzak Khan Raj and the directors of the FBCCI were present, among others.